How JP Morgan Made His Money

JP Morgan (1837 – 1913) was the most powerful American banker of the second half of the 19th century and early part of the 2oth. He is perhaps best known for managing the deal in which US Steel Corporation was created through a merger of Andrew Carnegie’s Carnegie Steel Company and the Federal Steel Company. US Steel became the first billion dollar company in history.

Morgan quickly became the go to guy when the government needed financial assistance.

He once observed that a man always has at least two reasons for why he does something: A reason that sounds good and the real reason.

It’s a good point to keep in mind during negotiations.

Here’s a 44 minute documentary on him. Morgan is also a major character in History Channel’s The Men Who Made America series.

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